Newfound Research LLC Sells 160 Shares of McDonald’s Co. (NYSE:MCD)

Newfound Research LLC cut its holdings in shares of McDonald’s Co. (NYSE:MCDGet Rating) by 31.4% during the 2nd quarter, Holdings Channel reports. The firm owned 350 shares of the fast-food giant’s stock after selling 160 shares during the period. Newfound Research LLC’s holdings in McDonald’s were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MCD. Vanguard Group Inc. boosted its position in shares of McDonald’s by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,004,180 shares of the fast-food giant’s stock worth $16,568,793,000 after acquiring an additional 1,039,187 shares in the last quarter. BlackRock Inc. increased its stake in McDonald’s by 4.5% in the fourth quarter. BlackRock Inc. now owns 52,918,755 shares of the fast-food giant’s stock valued at $14,185,930,000 after acquiring an additional 2,294,758 shares during the last quarter. State Street Corp increased its stake in McDonald’s by 2.9% in the fourth quarter. State Street Corp now owns 36,973,382 shares of the fast-food giant’s stock valued at $9,911,455,000 after acquiring an additional 1,033,751 shares during the last quarter. Norges Bank bought a new position in McDonald’s in the fourth quarter valued at approximately $2,060,325,000. Finally, Charles Schwab Investment Management Inc. increased its stake in McDonald’s by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,117,531 shares of the fast-food giant’s stock valued at $1,265,463,000 after acquiring an additional 108,282 shares during the last quarter. 67.27% of the stock is owned by institutional investors.

McDonald’s Trading Down 1.3 %

MCD stock traded down $3.26 during midday trading on Friday, hitting $244.68. The stock had a trading volume of 99,933 shares, compared to its average volume of 2,372,805. The firm has a market cap of $180.02 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 3.05 and a beta of 0.57. McDonald’s Co. has a 1-year low of $217.68 and a 1-year high of $271.15. The business has a fifty day moving average price of $258.22 and a two-hundred day moving average price of $249.50.

McDonald’s (NYSE:MCDGet Rating) last released its earnings results on Tuesday, July 26th. The fast-food giant reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $5.72 billion for the quarter, compared to analyst estimates of $5.82 billion. McDonald’s had a net margin of 25.77% and a negative return on equity of 129.90%. McDonald’s’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.37 earnings per share. On average, equities analysts anticipate that McDonald’s Co. will post 9.83 EPS for the current year.

McDonald’s Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Thursday, September 1st were issued a $1.38 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $5.52 annualized dividend and a yield of 2.26%. McDonald’s’s payout ratio is 67.98%.

Insider Activity

In other news, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $264.02, for a total transaction of $1,188,090.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Catherine A. Hoovel sold 2,371 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $255.62, for a total transaction of $606,075.02. Following the transaction, the senior vice president now owns 1,184 shares in the company, valued at $302,654.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Enrique Hernandez, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $264.02, for a total transaction of $1,188,090.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,191 shares of company stock worth $5,250,365. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

MCD has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on shares of McDonald’s from $266.00 to $275.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Credit Suisse Group lifted their price objective on shares of McDonald’s from $285.00 to $287.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Truist Financial boosted their target price on shares of McDonald’s from $273.00 to $276.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Atlantic Securities raised shares of McDonald’s from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $245.00 to $278.00 in a research note on Wednesday, June 29th. Finally, Guggenheim boosted their target price on shares of McDonald’s to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and an average target price of $285.39.

About McDonald’s

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McDonald's Corporation operates and franchises McDonald's restaurants in the United States and internationally. Its restaurants offer hamburgers and cheeseburgers, chicken sandwiches and nuggets, wraps, fries, salads, oatmeal, shakes, desserts, sundaes, soft serve cones, bakery items, soft drinks, coffee, and beverages and other beverages, as well as breakfast menu, including biscuit and bagel sandwiches, breakfast burritos, hotcakes, and other sandwiches.

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Institutional Ownership by Quarter for McDonald's (NYSE:MCD)

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